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Bargain Chair Fetches Over $100K at Auction
14 Oct
Summary
- A $50 armchair from Facebook Marketplace sold for $107,950.
- The chair was designed by Danish designer Frits Henningsen.
- Sotheby's restored the rare chair before its record sale.
In February 2023, Los Angeles-based home design content creator Justin Miller discovered a unique leather armchair on Facebook Marketplace for just $50. He was drawn to its unusual shape and striking color. Miller soon learned the chair was a rare 1930s design by Danish craftsman Frits Henningsen, with only about 50 believed to have been made.
Miller reached out to Sotheby's, who agreed to restore the chair and put it up for auction. The auction house repaired the item, conditioning the leather and tightening the fabric. It was given a pre-sale estimate of $30,000 to $50,000.
The auction on June 7 concluded in under three minutes, with the chair selling for $85,000. Including the buyer's premium, the final sale price reached $107,950, setting a new record for a Frits Henningsen chair. Miller's reaction video to the sale went viral, gaining millions of views.
